S&T Bancorp (NASDAQ:STBA) Raised to Hold at StockNews.com

StockNews.com upgraded shares of S&T Bancorp (NASDAQ:STBAFree Report) from a sell rating to a hold rating in a report issued on Tuesday morning.

Separately, Stephens upped their price objective on S&T Bancorp from $29.00 to $30.00 and gave the stock an equal weight rating in a research note on Monday, July 24th.

Get Our Latest Stock Analysis on STBA

S&T Bancorp Stock Down 2.0 %

STBA stock opened at $28.52 on Tuesday. The business’s 50-day moving average is $27.01 and its two-hundred day moving average is $28.08. The company has a market cap of $1.09 billion, a price-to-earnings ratio of 7.49 and a beta of 0.75. S&T Bancorp has a fifty-two week low of $24.51 and a fifty-two week high of $38.43. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.97 and a current ratio of 0.97.

S&T Bancorp (NASDAQ:STBAGet Free Report) last posted its quarterly earnings data on Thursday, October 19th. The financial services provider reported $0.87 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.03). S&T Bancorp had a return on equity of 12.21% and a net margin of 29.04%. The business had revenue of $135.14 million during the quarter, compared to analysts’ expectations of $101.80 million. During the same period in the previous year, the business posted $0.95 EPS. As a group, analysts forecast that S&T Bancorp will post 3.65 earnings per share for the current year.

S&T Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 24th. Investors of record on Thursday, November 9th will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 4.63%. This is a positive change from S&T Bancorp’s previous quarterly dividend of $0.32. The ex-dividend date is Wednesday, November 8th. S&T Bancorp’s dividend payout ratio is currently 34.65%.

Hedge Funds Weigh In On S&T Bancorp

Large investors have recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company raised its position in shares of S&T Bancorp by 26.9% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 19,151 shares of the financial services provider’s stock valued at $519,000 after purchasing an additional 4,058 shares during the period. GSA Capital Partners LLP bought a new stake in S&T Bancorp during the third quarter valued at about $295,000. Royal Bank of Canada lifted its position in shares of S&T Bancorp by 20.4% in the third quarter. Royal Bank of Canada now owns 14,126 shares of the financial services provider’s stock valued at $383,000 after acquiring an additional 2,392 shares in the last quarter. Alps Advisors Inc. boosted its stake in shares of S&T Bancorp by 32.2% in the third quarter. Alps Advisors Inc. now owns 12,320 shares of the financial services provider’s stock worth $334,000 after acquiring an additional 3,000 shares during the period. Finally, Lazard Asset Management LLC grew its position in shares of S&T Bancorp by 74.0% during the third quarter. Lazard Asset Management LLC now owns 6,272 shares of the financial services provider’s stock worth $169,000 after purchasing an additional 2,668 shares in the last quarter. Hedge funds and other institutional investors own 63.42% of the company’s stock.

S&T Bancorp Company Profile

(Get Free Report)

S&T Bancorp, Inc operates as the bank holding company for S&T Bank that provides retail and commercial banking products and services. The company operates through six segments: Commercial Real Estate, Commercial and Industrial, Business Banking, Commercial Construction, Consumer Real Estate, and Other Consumer.

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